Interim report for the first 9 months of 2015

9M sales and profit in line with August expectations; full-year outlook narrowed

Sales in the first nine months of 2015 grew by 4% organically and by 14% in DKK compared with 9M 2014. EBIT grew by 15%, and the EBIT margin was 27.7%. Net profit grew by 11%, and free cash flow before acquisitions came in at DKK 2,022 million. In Q3 alone, sales grew by 3% organically and by 11% in DKK compared with Q3 2014.
The 2015 outlook for organic sales growth is adjusted within the previous range to 4-5% (4-7% at previous guidance). Sales in DKK are now expected to increase by 12-13% (13-16% at previous guidance). The expectation for EBIT growth is adjusted to ~15% and net profit growth to ~12% (15-17% and 11-13% respectively at previous guidance). The expectation for EBIT margin is unchanged.
Peder Holk Nielsen, President and CEO of Novozymes, comments: “Our performance was in line with expectations nine months into the year: record earnings on a relatively low topline growth. We're on track to meet the full-year organic sales and profit outlook, as we continue to focus our efforts on driving innovation and sales growth.”

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